Ethereum

Based

Base

USDC

<p>Base, <a href="https://www.thecoinrepublic.com/2024/10/22/coinbase-ceo-brian-armstrong-endorses-pro-crypto-republicans/">Coinbase’s</a> blockchain network, has ushered in a new era of onchain technology with the recent&nbsp;launch&nbsp;of Based Agent. This feature enables users to create autonomous onchain agents with crypto wallets in less than three minutes.</p> 
<p>Leveraging tools like the CoinbaseDev SDK, OpenAI, and Replit, these agents perform complex functions without requiring extensive coding knowledge.</p> 
<p>This advancement highlights Coinbase’s commitment to decentralized solutions. It sets the stage for a transformative onchain environment where anyone can create customizable agents on the blockchain.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-full">
  <img loading="lazy" decoding="async" width="720" height="421" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/10/1000295468.jpg" alt="Source: X" class="wp-image-798881" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/10/1000295468.jpg 720w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/1000295468-300x175.jpg 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/1000295468-150x88.jpg 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/1000295468-696x407.jpg 696w" sizes="(max-width: 720px) 100vw, 720px">
  <figcaption class="wp-element-caption">
   <em>Source: X</em>
  </figcaption>
 </figure>
</div> 
<h2 class="wp-block-heading" id="h-coinbase-s-base-stablecoin-transaction-volume"><strong>Coinbase’s Base Stablecoin Transaction Volume</strong></h2> 
<p>Base achieved a historic milestone in October when it recorded the highest stablecoin transaction volume across all chains in a single day.</p> 
<p>On October 26th, Base processed over $18.1 billion in stablecoin transactions. 99.9% of which involved USDC, representing over 30% of the day’s total stablecoin volume.</p> 
<p>For perspective, USDC transactions on Base surpassed $20 billion in a day. This placed Base alongside Ethereum and Solana as one of the few networks achieving this volume.</p> 
<p>In January, Base handled an average of $120 million daily in USDC transactions. By October, this figure soared to $12.4 billion daily, marking a staggering 100x increase.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large">
  <img loading="lazy" decoding="async" width="1024" height="498" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/10/1000295472-1024x498.jpg" alt="Source: Artemis" class="wp-image-798886" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/10/1000295472-1024x498.jpg 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/1000295472-300x146.jpg 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/1000295472-768x374.jpg 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/1000295472-1536x748.jpg 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/1000295472-150x73.jpg 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/1000295472-696x339.jpg 696w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/1000295472-1068x520.jpg 1068w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/1000295472.jpg 1878w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   <em>Source: Artemis</em>
  </figcaption>
 </figure>
</div> 
<p>Alongside its volume milestones, Coinbase’s Base attracted substantial capital inflows. Many of these funds flowed into other key blockchain ecosystems, including Sui Network and Arbitrum.</p> 
<p>This pattern signals investor interest in Base and its peers. It reinforced its appeal as a hub for stablecoin transactions and decentralized finance (DeFi) applications.</p> 
<p>Additionally, users on the Aave platform showed heightened interest in USDC on Base, leading to increased yields on USDC-related vaults, like the USDC-jEUR vault, that provide short EUR/USD positions while securing assets through Aave.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large">
  <img loading="lazy" decoding="async" width="1024" height="496" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/10/1000295473-1024x496.jpg" alt="Source: Artemis" class="wp-image-798891" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/10/1000295473-1024x496.jpg 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/1000295473-300x145.jpg 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/1000295473-768x372.jpg 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/1000295473-1536x743.jpg 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/1000295473-150x73.jpg 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/1000295473-696x337.jpg 696w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/1000295473-1068x517.jpg 1068w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/1000295473.jpg 1880w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   <em>Source: Artemis</em>
  </figcaption>
 </figure>
</div> 
<p>Further solidifying its impact, Base played a crucial role in Ethereum Layer 2 solutions, where stablecoin market caps recently exceeded $10 billion.</p> 
<p>Arbitrum and Base have emerged as leaders among Layer 2 platforms, securing their roles as core execution layers for Ethereum. This growth fuels DeFi innovation and boosts ETH demand, further establishing Base as a trusted Layer 2 solution.</p> 
<p>Base has also gained traction by hitting all-time highs in daily transactions, reaching over 6.4 million and outperforming Ethereum and other popular Layer 2 networks.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large">
  <img loading="lazy" decoding="async" width="1024" height="510" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/10/1000295474-1024x510.jpg" alt="Source: X" class="wp-image-798901" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/10/1000295474-1024x510.jpg 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/1000295474-300x149.jpg 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/1000295474-768x382.jpg 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/1000295474-1536x764.jpg 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/1000295474-2048x1019.jpg 2048w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/1000295474-150x75.jpg 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/1000295474-696x346.jpg 696w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/1000295474-1068x531.jpg 1068w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/1000295474-1920x955.jpg 1920w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   <em>Source: X</em>
  </figcaption>
 </figure>
</div> 
<h2 class="wp-block-heading" id="h-base-s-growing-influence-and-tvl"><strong>Base’s Growing Influence and TVL</strong></h2> 
<p>This impressive performance reflects Coinbase and Base’s growing influence as it attracts users seeking scalable blockchain environments. Within this space, Base has supported various projects, including memecoins.</p> 
<p>For instance, Virtual Protocol’s token ($VIRTUAL) experienced a 600% increase over the past month, amassing a market cap of over $110 million. Similarly, Luna ($LUNA) by Virtuals, launched on October 16th, saw its price rise by 220% in just a week, achieving a market cap of $50 million.</p> 
<p>The success of Base-based tokens mirrors the 2016 Bitcoin cycle, showcasing potential for substantial price growth. Luna on Base recently displayed a double-bottom breakout pattern, a bullish technical indicator that suggests upward momentum could continue.</p> 
<p>With support from a strong community, Base-based tokens might reach new all-time highs. It can be driven by Base’s rising total value locked (TVL) and increasing transaction volume.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large">
  <img loading="lazy" decoding="async" width="1024" height="1015" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/10/1000295475-1-1024x1015.jpg" alt="Source: DefiLlama" class="wp-image-798906" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/10/1000295475-1-1024x1015.jpg 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/1000295475-1-300x297.jpg 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/1000295475-1-150x149.jpg 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/1000295475-1-768x761.jpg 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/1000295475-1-696x690.jpg 696w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/1000295475-1-1068x1058.jpg 1068w, https://www.thecoinrepublic.com/wp-content/uploads/2024/10/1000295475-1.jpg 1320w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   <em>Source: DefiLlama</em>
  </figcaption>
 </figure>
</div> 
<p>With its robust infrastructure, Base has positioned itself as a leader in stablecoin transactions and DeFi expansion, and it could drive broader adoption within the blockchain industry.</p> 
<p>Base’s recent performance signals a promising future in decentralized finance, where it competes with established blockchains and attracts a growing user base.</p> 
<p>Investors and developers could keep a close eye on Base as it continues to innovate and shape the digital finance landscape, with the potential to redefine blockchain technology for a decentralized future.</p> 
<p>The post <a href="https://www.thecoinrepublic.com/2024/10/28/coinbases-new-launch-creates-ai-bots-in-3mins-will-it-be-a-hit/">Coinbase’s New Launch Creates AI Bots in 3Mins: Will it be a Hit?</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.</p>

Coinbase’s New Launch Creates AI Bots in 3Mins: Will it be a Hit?

Table of Contents

Thecoinrepublic.com

Other articles published on Oct 28, 2024

What Are the Latest Predictions for Altcoins?

Global Stablecoin Supply Drops but Expected to Rebound as Token Prices Rise: OurNetwork

Experts Predict Price Movements for RUNE and MKR Coins

MOG Coin Price Analysis: Bears Dominate as Analysts Eye Key Levels

Top 5 Altcoins Loved by People of United States

6 African fintechs make global 100 most promising fintechs list, none from Nigeria

Join our free newsletter for daily crypto updates!